Indian Industry will soon have clear guidelines for compliance with SEBI Regulations: K V Kamath, Chairman, Industry Standards Forum
Dec 03, 2023
MUMBAI, 03 December 2023: “Standard Setting process for compliance with SEBI Regulations is progressing well. The Industry Standards Forum, comprising representatives of Assocham, CII and FICCI, has made significant headway in formulating precise compliance standards for ESG disclosures under BRSR Core framework and applicable assurance requirements”, said Mr K V Kamath, Chairman of Industry Standards Forum. He also informed that extensive deliberations are being conducted with industry representatives in consultation with SEBI. He added that standards for compliance with the recently introduced requirement of verification of rumours by listed entities are also being developed.
Mr Kamath was referring to the recently amended provisions of SEBI LODR Regulations, of which standards for BRSR Core, ESG assurance requirements and rumour verification have been taken up on priority by the Industry Standards Forum. Post finalisation of the first set of standards, the Forum would take up disclosure requirements under Regulations 30 and 30A of the LODR Regulations.
About Industry Standards Forum
As part of a unique initiative facilitated by SEBI, India’s three leading industry associations - ASSOCHAM, CII and FICCI - have come together and constituted the Industry Standards Forum under the Chairmanship of Mr K V Kamath to assist in designing the implementation standards for various SEBI regulations under the aegis of the Stock Exchanges. The constructive and inclusive approach designed to foster collaboration and enhance ease of compliance has been appreciated by all stakeholders.